"Gas could drop to 10 cents a gallon but if shares of a stock drop to 10 cents a share; falling gas prices become a farce"
?!
Piffle.
" shares of a stock " and entire index of stocks are two different things.
And while $40.oo / bbl oil clobbers the energy sector, it's beneficial elsewhere.
Teamsters that truck a farmer's produce to market get more for that produce than the farmer does. Transportation is expensive.
Lower fuel prices makes:
- airlines more profitable
- moving the output of our farms and factories to market cheaper
- employees commuting to work less expensive (leaving them more $money to spend elsewhere)
This is a stock market correction long overdue. China's markets were seriously over-valued.
And according to what I've read of it, the market has doubled since Obama took office.
So you whine about a 10% correction, and completely omit any mention of the 100% increase?
Lemme guess. You're a Republican?
JG #3
The Fed is independent of the administration.